The Federation of All India Petroleum Traders has announced that they will be observe 'no purchase no sale' on June 16 to protest against the daily revision of fuel prices.
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Meanwhile, the Petroleum Dealers Associations of Karnataka and Uttar Pradesh have also decided to protest against the daily price change without full automation.
On June 8, after a meeting between the Union Petroleum and Natural Gas Minister Dharmendra Pradhan with senior executives of oil marketing companies — Indian Oil (IOC), Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL) had announced that the petrol and diesel prices all over the country will be revised daily from June 16.
"The final modalities of the project are still being worked out, but a nationwide daily fuel price revision will be implemented in the second fortnight of this month," BusinessLine quoted an oil marketing company executive as saying.
Currently, the scheme is run only in five cities – Chandigarh, Jamshedpur, Puducherry, Udaipur and Visakhapatnam, as a pilot project.
Revised petrol and diesel by IOC in five pilot cities as of June 11:
Daily Price Revision of Petrol and Diesel in five pilot cities w.e.f 11th June, 2017. pic.twitter.com/Nu9kcTKgc3
— Indian Oil Corp Ltd (@IndianOilcl) June 10, 2017
However, the petrol pump owners were not happy with the decision and were doubtful about the feasibility of the project. "It will not be possible to implement this pricing methodology manually. There are 40,000 automated petrol and diesel retail outlets out of the approximately 56,000 total fuel outlets (in the country)," Ajay Bansal, president of the All India Petroleum Dealers Association, told the daily.
